DeFi Platform Frax Selects Crypto.com Custody To Secure Digital Assets
Crypto.com announced that Frax, the financial technology company helping to build the decentralized finance protocol and network behind a suite of stablecoins and liquid staking assets, has selected Crypto.com Custody to provide custody and liquidity services for its digital assets.
Crypto.com Custody offers custody services to “eligible institutions and high-net-worth clients through a comprehensive, end-to-end solution with safety and security at its core.”
Through this partnership, the native asset and gas token of the Fraxtal blockchain, FRAX, will become “accessible to institutions via Crypto.com’s custody and liquidity platform.”
FRAX powers network operations and secures “the blockchain through validator staking mechanisms, and by integrating with Crypto.com’s infrastructure, institutions can now custody the digital asset under a secure and compliant framework.”
Crypto.com also intends to collaborate with Frax to “explore the enablement of custody and liquidity services for the broader Frax ecosystem.”
Eric Anziani, President and Chief Operating Officer of Crypto.com:
“We’re honored that Frax has selected Crypto.com to support their ecosystem. This collaboration reflects our shared commitment to expanding secure, institutional access to digital assets.”
Sam Kazemian, Founder of Frax:
“Trusted custody is critical for institutions engaging with Frax. Thanks to our long-term partner and investor Crypto.com, institutions can now securely access the FRAX token, getting exposure to our ecosystem purpose-built for the GENIUS stablecoin future.”
Founded in 2016, Crypto.com claims it is “trusted” by users worldwide and is the industry enabler of “regulatory compliance, security and privacy.”
Crypto.com says it is committed to accelerating “the adoption of cryptocurrency through empowering the builders, creators, and entrepreneurs to develop a fairer and more equitable digital ecosystem.”
Frax is a U.S.-based financial technology company “building the infrastructure for open, stable, and borderless digital money.”
Their platform is reportedly built on these core pillars:
- frxUSD Stablecoin: A fully backed digital dollar, powered by U.S. Treasuries through partners like BlackRock and Superstate.
- Fraxtal Blockchain: A high-performance, Ethereum-compatible network optimized for stablecoin scalability and real-time payments.
- FraxNet: A non-custodial platform for minting, redeeming, and earning yield on frxUSD.
Frax serves financial institutions, fintechs, and enterprises seeking secure, compliant access “to digital dollars and blockchain infrastructure.”